Key Insights:
- DOGE is consolidating near $0.12–$0.13 after a major correction and liquidity sweep.
- Break above $0.15–$0.16 could trigger a bullish move toward $0.18 with lighter resistance ahead.
- A drop below the $0.124 trendline may push DOGE to $0.117 or extend consolidation range.
Dogecoin (DOGE) was trading around $0.1255, following a sharp correction from earlier highs. Over the past 24 hours, the price has dipped by 0.5%, and over the last seven days, it has dropped 1.9%. The coin is now resting near the $0.12–$0.13 range, an area that has acted as a support level in past cycles.
BitGuru reports that this zone has already seen a liquidity sweep, where the price moved below key support to remove weak positions before recovering. The same area has attracted interest from buyers in the past. Whether this zone continues to hold may decide DOGE’s short-term direction.
Resistance at 0.15–0.16 Blocks the Path to 0.18
The next challenge for DOGE sits at $0.15–$0.16, a price zone where earlier moves have been rejected. Breaking through this area may allow the price to recover toward $0.18 or higher, where less resistance is present.
BitGuru notes that “Break above 0.15 — 0.16 could open the door for recovery toward 0.18+,” but also warns that “failure to hold this demand keeps DOGE in prolonged consolidation phase.” This means the coin may stay in a sideways range if it doesn’t push past resistance.
Source: BitGuru /XChart Forms Triangle Pattern Before Major Move
On the 4-hour chart, DOGE has formed a symmetrical triangle, a pattern where price trades between two narrowing trendlines. This setup often leads to a strong move once one of the trendlines is broken. The top of the triangle is near $0.13, while the lower boundary sits close to $0.124.
A break above the triangle could send DOGE toward $0.138–$0.14. A drop below the lower support line may bring it down to $0.117 or even lower. The price is nearing the point where a decision must be made. Traders are watching closely for volume to confirm the next move.
Long-Term Trendline Still Holds
Another chart, reviewed by Man of Bitcoin, shows DOGE trading just below a descending trendline that has held since earlier market tops. This trendline has stopped several rallies in the past and remains in place now.
According to Man of Bitcoin, “$DOGE is consolidating below the descending trendline,” and a break above this line could push the price toward the next major trendline. DOGE has shown strong respect for these lines in previous cycles. If it breaks out, it may mark the beginning of a new wave upward.
Source: Man of Bitcoin/XDOGE remains in a tight range. Price action near the $0.12–$0.13 support and the $0.15–$0.16 resistance will likely guide the next move.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/dogecoin-at-crossroads-0-18-rally-or-deeper-drop-below-0-12/
